What is blockchain?

Blockchain is the technology of the future, fascinating in its prospects. If you still doubt that blockchain will conquer the world in the coming years, look at the statistics!

In 2020 alone, the blockchain market will grow by 10.27%.

The total blockchain market is now worth over $1.68 billion.

The size of the global blockchain market is expected to grow to $39.7 billion by 2025.

Keep up with the rapidly developing world of innovation. Get to grips with how blockchain technology works!

What is blockchain?
It is a database that consists of a chain of blocks that are inseparable and interconnected. It is impossible to delete or replace a block that is in this chain. The database has no central computer. It's a decentralised system: all information is stored on the computers of all users.

How does blockchain work?
Let's look at how blockchain works using cryptocurrency as an example. Let's say you want to transfer money to a friend. All the information about who transfers the money to whom, how much, and when is in the transaction. When the transaction is confirmed, it is added to a new block. This block is then automatically added to the whole chain and appears on all the systems.

Why is blockchain safe?
There is no way to change or delete any completed activities! All transactions are recorded in the blockchain. It is unbreakable as each block contains a link to the previous block. Blocks cannot be changed or deleted. Only the new ones can be added. To hack the blockchain - you have to hack all the computers connected to the system, which is physically impossible!

Get more applied knowledge and details about blockchain with the new DigiU.Education platform course. The speaker of the course is Boris Povar, founder of DigiU.Lab blockchain lab and one of DigiU's founders. Boris will share his personal experience of creating cryptocapital, explain the non-obvious details of blockchain technology and help to avoid the mistakes that 80% of beginners make!

️ Click on the link and watch the free DigiU.Education course https://education.digiu.ai/

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